Net Direct Tax Mop Up Grow 46% In April-July

The Centre''s net direct tax revenues collections in the first four months of the current fiscal reported a 45.6 per cent increase to Rs 53,397 crore. In April-July 2007, the growth in gross direct tax mop ups has also been robust at about 28 per cent to Rs 65,236 crore.

While net corporation tax collections recorded a 23.3 per cent increase to Rs 30,288 crore, the net personal income-tax collections rose by 39.3 per cent to Rs 20,066 crore.

Official sources said that fringe benefit tax collections stood at Rs 971 crore. While the securities transaction tax collections increased by 16.9 per cent to Rs 1,831 crore, banking cash transaction tax collections stood at Rs 201 crore. For fiscal 2007-08, the budget estimate for direct taxes has been pegged at Rs 2,67,400 crore. This is against the budget estimate of Rs 2,10,419 crore for fiscal 2006-07. The actual mop up in direct taxes in fiscal 2006-07 stood at Rs 2,29,181 crore.